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Desperation is powerful fodder for scams and a troubled and problem-plagued federal loan modification program offers added opportunity for scamming. So it comes as no surprise that the New Jersey ...
What is a loan modification and how does it work? ... Mortgage loan modification scams are designed to take your money with the false promise of preventing foreclosure. “Scam artists offer to ...
Equity stripping or equity skimming is a variation on lease-buyback and is one of the most common types of foreclosure rescue schemes. [4] In it, the perpetrator assumes ownership of the house while allowing the former owner to continue living there, provided that s/he pay rent to the perpetrator, who is the new owner.
In the same vein, the spate of loan modification scammers who have taken thousands. Many a homeowner has been "inspired" to do-it-yourself-dom by a traumatic encounter with a bad contractor ...
Loan modification is the systematic alteration of mortgage loan agreements that help those having problems making the payments by reducing interest rates, monthly payments or principal balances. Lending institutions could make one or more of these changes to relieve financial pressure on borrowers to prevent the condition of foreclosure.
The emergency loan-modification options give homeowners the potential to extend amortization periods on their homes if experiencing significant financial hardship or foreclosure. These options can offer extensions up to a 40-year amortization, if a 15-year extension is granted on a previous 25-year amortization mortgage.
Mortgage loan modification. You need it. You want it. You have to have it. You're determined to get it. You're out on the street if you don't! And, in case you haven't figured this out yet on your ...
A loan modification company, also known as a mortgage modification company, is a business that helps homeowners in the United States modify the terms of their home loans or mortgages. When a mortgage is modified, the original terms of the home loan contract between a lender and a borrower are renegotiated and then altered, usually in the favor ...